| 释义 |
hypothecation
n. 1. A mortgage granted by a ship’s master to secure the repayment with interest, on the safe arrival of the ship at her destination, of money borrowed during a voyage as a matter of necessity (e.g. to pay for urgent repairs). The hypothecation of a ship itself, with or without cargo, is called bottomry; that of its cargo alone is respondentia. It is effected by a bond, and the bondholder is entitled to a maritime lien. 2. An authority given to a banker, usually as a letter of hypothecation, to enable the bank to sell goods or property that have been pledged to it as security for a loan. It applies only when the goods remain in the possession of the pledgor. |